Wolfden drills 9 metres of 1.2% NiEq at Rice Island, Manitoba

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Wolfden Resources Corp. [WLF-TSXV; WGMCF-OTCQB] reported positive drill results from a five-hole, 2,300-metre winter diamond drilling program on its 100%-owned Rice Island nickel-copper-cobalt-platinum-group-element project in Snow Lake, Manitoba.

Three of the four holes that targeted the nickel-rich Keel and Feeder zones intersected strong mineralization with nickel equivalent intercepts including nine metres at 1.20% nickel equivalent and 14 metres at 0.80% NiEq and 2 metres at 1.30% cent NiEq.

The fourth hole passed below the east-plunging mineralization, just missing a historic intercept of 0.73% NiEq over 25.84 metres, which strongly suggests that the Keel Zone extends farther down plunge to the east below 500 metres from surface.

“The drill holes returned assay results similar to what was expected and further increased our confidence in the deposit model, which supports more drilling to follow the plunge of the Keel to depth, to test the limbs of the Keel and to trace the Feeder zone to depth,” stated Don Dudek, vice-president, exploration. “It must also be emphasized that the Keel limbs are near vertical, that they increase in length when we follow the Keel to depth and would be cost-effective to mine if shown to be economic.”

One of the holes (RI-21-41), targeting a deeper section of the keel zone, passed below the east-plunging mineralization, just missing a historic intercept that yielded 0.73% NiEq over 25.84 metres. Downhole geophysics were performed on this hole and indicate the potential for mineralization; however, there was not sufficient time to drill test this target due to the warming winter conditions and the need to demobilize the drill from the ice for spring breakup.

Additional holes had been planned to test the Feeder zone at depth and down plunge where better widths and grades were previously intersected (0.94% NiEq over 12.4 metres – 5.5 metres true width) and nearby untested conductive zones. Further drilling of the zone down plunge and of both limbs on either side of the keel is definitely warranted and will be carried out in the next program. The drill program was financed in part with the support of a $230,000 grant from the Manitoba Mineral Development Fund.

The last hole of the program tested a regional airborne conductor and magnetic target over 1 km to the northwest from the Rice Island Zone on the shore of Lake Wekusko. Although the target proved to be a 138-metre-long intersection of mafic sediments with approximately 40% sulphides (pyrite and pyrrhotite), it did not return any significant values of precious metals.

The last hole of the program tested a regional airborne conductor and magnetic target over 1 km to the northwest from the Rice Island Zone on the shore of Lake Wekusko. Although the target proved to be a 138-metre-long intersection of mafic sediments with approximately 40% sulphides (pyrite and pyrrhotite), it did not return any significant values of precious metals.

Follow-up drilling is warranted pending the completion of modelling and drill permitting.


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